AvaTrade - Analytics

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    GBP/USD- Above its 50 & 100 MA, will you trade?

    The GBP/USD pair is moving in a sideway pattern on a 30 minute time frame. The price is trading above its 50 day (shown in yellow) and the 100 day (shown in red) moving averages which means that the bias is towards the upside because the bulls are taking the control. The volatility is for the pair is low as well as it is trading within the Bollinger band and close enough to its 20 day moving average.

    The RSI and the MACD indicators are trading in line with the price action and this means that we could still more upward move towards the upside.

    GBPUSD 06-04-2015

    Important Zones

    Support Zone

    1.4745-1.4720 Minor

    1.4657-1.4632 Major

    Resistance Zone

    1.5134-1.5112 Minor

    1.5408-1.53773 Major


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